Dow Dips Over 400 Points; ISM Manufacturing PMI Falls In March

U.S. stocks traded lower this morning, with the Dow Jones falling more than 400 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 1.03% to 41,570.89 while the NASDAQ fell 0.61% to 17,194.54. The S&P 500 also fell, dropping, 0.76% to 5,569.16.

Check This Out: Top 3 Tech And Telecom Stocks That May Keep You Up At Night In Q2

Leading and Lagging Sectors

Consumer staples shares fell by just 0.1% on Tuesday.

In trading on Tuesday, health care shares tumbled by 1.2%.

Top Headline

The ISM manufacturing PMI declined to 49 in March compared to a reading of 50.3 in February, and also missing market estimates of 49.5.

Equities Trading UP
                       

• bioAffinity Technologies, Inc. (NASDAQ:BIAF) shares shot up 225% to $0.8588 following a year-over-year increase in FY24 financial results.
• Shares of ReShape Lifesciences Inc. (NASDAQ:RSLS)got a boost, surging 166% to $0.9600 after falling around 7% on Monday.
• Newsmax, Inc. (NYSE:NMAX) shares were also up, gaining 119% to $183.05 after jumping 735% on Monday.

Equities Trading DOWN

• Aptose Biosciences Inc.  (NASDAQ:APTO) shares dropped 53% to $1.4980 after the company announced it is going to delist from the Nasdaq.
• Shares of Cambium Networks Corporation (NASDAQ:CMBM) were down 53% to $0.3322 after the company announced that it will delay Form 10-K filing for fiscal year 2024.
• Open Lending Corporation (NASDAQ:LPRO) was down, falling 39% to $1.6950 after the company announced weak quarterly results.

Commodities

In commodity news, oil traded down 0.2% to $71.32 while gold traded up 0.4% at $3,163.90.

Silver traded up 0.5% to $34.77 on Tuesday, while copper rose 0.6% to $5.0645.

Euro zone

European shares were higher today. The eurozone's STOXX 600 jumped 1.1%, Germany's DAX 40 rose 1.3% and France's CAC 40 climbed 0.9%. Spain's IBEX 35 Index climbed 1%, while London's FTSE 100 rose 0.8%.

Asia Pacific Markets

Asian markets closed mixed on Tuesday, with Japan's Nikkei 225 gaining 0.02%, China's Shanghai Composite Index gaining 0.38%, Hong Kong's Hang Seng Index rising 0.38% and India's BSE Sensex dipping 1.80%.

Economics

• The S&P Global US manufacturing PMI came in at 50.2 for March, versus the preliminary reading of 49.8.
• The ISM manufacturing PMI declined to 49 in March compared to a reading of 50.3 in February, and also missing market estimates of 49.5.
• U.S. construction spending increased 0.7% month-over-month in February following a revised 0.5% fall in January.
• The number of job openings fell by 194,000 to 7.568 million in February compared to a revised 7.762 million in the previous month.

Now Read This:

• How To Earn $500 A Month From UniFirst Stock Ahead Of Q2 Earnings

Photo via Shutterstock